WOODBRIDGE, N.J. – The Kislak Company, Inc. announced the recent sale of six investment properties in Jersey City and Bayonne, Hudson County, New Jersey for a total of $8,672,000.
The separate transactions include the sale of The Gateway, a 20-unit apartment building for $5,825,000 in Bayonne; a 6-unit building at 164 Delaware Avenue in Jersey City for $700,000; a 4,000 square-foot office building at 526 Broadway in Bayonne for $577,500; a 6-unit property at 167 Clendenny Avenue in Jersey City for $575,000; a 6-unit building at 123 West 54th Street in Bayonne for $500,000 and a 6-unit building at 45 West 54th in Bayonne for $494,500.
Sales associate Davis Briones represented the seller in each transaction. He also represented the purchasers of the Bayonne properties.
“Davis is a rising star at Kislak and has become a ‘go-to’ expert in and around Bayonne,” said Robert Holland, president. “These sales are the result of his hard work and dedication to our clients, and I applaud his accomplishments.”
“Many Hudson County multifamily properties generate a significant return, often in a relatively short amount of time given the market’s strong tenant base and proximity to New York City,” said Briones. “Demand is soaring among investors for properties. New owners often achieve rent growth shorty after closing.”
The Gateway is newly a constructed, four-story apartment building situated above a two-story concrete parking garage with 20 residential units and 24 parking spaces. All of the units have a balcony or terrace, in-unit washers and dryers, stainless steel appliances, hardwood floors and walnut cabinets. The top floor has 12 foot ceilings. The property is centrally located on Avenue E near shopping and restaurants, and is within walking distance of the Hudson Bergen Light-Rail with direct access to Manhattan.
526 Broadway is a two-story brick building with approximately 4,000 square feet of office space. The building was owned through three generations of lawyers who had an established business in Bayonne. The building will be renovated by the purchaser for a medical office. The Hudson Bergen Light-Rail stop is two blocks from the property on the corner of East 22nd Street and Avenue E.
164 Delaware Avenue and 167 Clendenny Avenue in Jersey City are both three-story buildings with six two-bedroom units, conveniently located in Jersey City’s West Side section near shopping and dining. The properties are close to transportation, near U.S. Highway 1-9, New Jersey Transit bus stops and one mile from Journal Square.
123 West 54th Street and 45 West 54th Street in Bayonne are two, three-story buildings with six residential units. Both properties are conveniently located near Kennedy Boulevard with access to shopping, bus stops, the Hudson Bergen Light-Rail, I-78 and Route 440.
Davis Briones joined Kislak in 2014 and specializes in the sale of multifamily and other investment properties in Hudson County, New Jersey.
About The Kislak Company, Inc.
The Kislak Company, Inc., which is headquartered in Woodbridge, New Jersey, is a leading commercial real estate brokerage firm consistently recognized for its investment sales success. Established in 1906, Kislak’s market leadership position and longevity are due to its ability to offer clients a personalized, hands-on approach, coupled with the unrivaled expertise of its long-tenured team of professionals. Kislak’s prestigious client base includes individual investors and owners, partnerships, financial institutions, and REITs. The firm’s 30 professionals provide comprehensive market coverage throughout New Jersey, New York, Pennsylvania and Delaware.
Now in its 110th year, Kislak was among a select group of firms recognized as a 2015 Power Broker by CoStar Group, Inc. and this was the firm’s tenth consecutive recognition.